Section 3865 - Financial conditions; method of determiningIn determining the financial condition of a reciprocal insurer the superintendent shall apply the following rules: [1973, c. 585, §12(AMD).]
1. The superintendent shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis. [RR 2021, c. 1, Pt. B, §314(COR).]
2. The surplus deposits of subscribers shall be allowed as assets, except that any premium deposits delinquent for 90 days shall first be charged against such surplus deposit. [1969, c. 132, §1(NEW).]
3. The surplus deposits of subscribers shall not be charged as a liability. [1969, c. 132, §1(NEW).]
4. All premium deposits delinquent less than 90 days shall be allowed as assets. [1969, c. 132, §1(NEW).]
5. An assessment levied upon subscribers, and not collected, shall not be allowed as an asset. [1969, c. 132, §1(NEW).]
6. The contingent liability of subscribers shall not be allowed as an asset. [1969, c. 132, §1(NEW).]
7. The computation of reserves shall be based upon premium deposits other than membership fees and without any deduction for expenses and the compensation of the attorney. [1969, c. 132, §1(NEW).]
1969, c. 132, § 1 (NEW) . 1973, c. 585, § 12 (AMD) .